Thoughts and observations about the Start Up community

The Difference Engine - Early Stage Funding

The
intensive programme will provide the critical start-up capital
(£20,000), mentor support, and dynamic working environment to allow
10 teams of digital entrepreneurs to turn their business idea into
reality.

The
application process is now officially underway; with would-be
entrepreneurs from anywhere in the world encouraged to apply online
at www.thedifferenceengine.eu
before the closing date of 4 January 2010. Ten teams will be selected
from a 20-strong shortlist, with the programme starting on the 15
February and finishing on 4 June. The end result will be the creation
of investment ready companies.

Each
year, The Difference Engine will have two 16-week cycles, both based
in North East England. The first cycle starts in February 2010 at
Boho One in DigitalCity Business, Middlesbrough, a state-of-the-art
business and networking development for digital businesses. The
second cycle will commence in July 2010 at Sunderland Software City.

The
launch of The Difference Engine is a reflection upon how much
unlocked entrepreneurial talent we know there is in the UK and
Europe,” said Jon Bradford, managing director, The Difference
Engine. “A lot of this talent never realises its potential because
there is limited access for young entrepreneurs to intensive mentor
lead programmes. The Difference Engine is something UK
entrepreneurialism, and the digital sector, worldwide, has been
crying out for.”

Key points of the programme include:

- it is open to anyone from anywhere (subject to work visas)- there is no obligation to stay in the region after the programme- equity investment of £20k for 8% founder stock- it is a 16 week programme- first intake opens mid February 2010